Sam Bankman Fried | 40-50 Years of Prison?

United States prosecutors recommended that a federal judge sentence Sam Bankman Fried, the founder and former CEO of FTX, which was one of the largest cryptocurrency exchanges, to serve 40-50 years in prison for his conviction of fraud and conspiracy charges related to the collapse of the exchange FTX.

The Southern District of New York office of the Department of Justice stated in a sentencing statement issued on Friday that Sam Bankman Fried shared fake papers, lied to investors and pumped millions of dollars in illegal donations into our political system, adding that a penalty of 40-50 years necessary with a recommended penalty of 11 Billion dollars and forfeiture.

The founder of FTX Sam Bankman Fried was convicted on seven distinct charges of conspiracy and fraud in November.

The $11 billion judgment sought by the prosecution was referred to as "a particularly conservative sum" by them noting that a sum of more than a billion dollars had been seized already.

On March 28, Sam Bankman Fried is scheduled to be sentenced. The defense team of Sam Bankman Fried urged a sentence of six years in a memo last month which was called by the prosecution as woefully inadequate in Friday's filing.

Sam Bankman Fried looks to be in trouble but the question is how are the investors going to be returned back their money lost with the collapse of the exchange FTX.

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